WARREN BUFFETT: The Republican healthcare bill should be called the 'Relief for the Rich Act'

Warren Buffett thinks the Republican healthcare bill has one
goal: to help rich people like him.

During
an interview with "PBS NewsHour" on Tuesday, the legendary
investor presented his tax return from last year to show just how
much he would save from the two proposed Republican plans (the
House's American Health Care Act and the Senate's Better Care
Reconciliation Act).

"Well, I brought my tax return along for the last year," Buffett
told PBS' Judy Woodruff. "I filed this on April 15. And if the
Republican — well, if the bill that passed the House with 217
votes had been in effect this year, I would have saved — I can
give you the exact figure. I would have saved $679,999, or over
17% of my tax bill."

Both the House and Senate GOP bills repeal all of the taxes
created by the Affordable Care Act, or Obamacare, which primarily
fall on the wealthiest Americans.
According to a study by the Tax Policy Center, the top 1% of
earners in the US would see an average tax-bill decrease of
$37,240 under the proposed healthcare bills. People in the top
fifth of earners would get 64.2% of the benefit from the tax cut.

"There's nothing ambiguous about that," Buffett said. "I will be
given a 17% tax cut. And the people it's directed at are couples
with $250,000 or more of income. You could entitle this, you
know, Relief for the Rich Act or something, because it — I have
got friends where it would have saved them as much as — it gets
into the $10-million-and-up figure."

Buffett also criticized Republicans for voting for a bill that
would bring down their own taxes, saying most members of Congress
make more than $250,000 a year.

"They have given themselves a big, big tax cut, if they — if they
voted for this," the Berkshire Hathaway CEO said.

Buffett also reiterated his call for a single-payer system for
healthcare, which he said would be "more effective."